SAP Successfully Implemented Change in Share Capital

Shareholders received three additional new shares for each share they already hold

WALLDORF - December 21, 2006 - SAP AG (NYSE: SAP) today successfully implemented the increase of the company’s subscribed capital from corporate funds, which was approved by the Annual General Meeting of Shareholders on May 9, 2006. After the close of stock exchange business on Wednesday, December 20, 2006, SAP AG shareholders received three additional shares (“bonus” shares) for each share they already hold. Today, SAP AG shares opened at €39.60.

Total shareholders’ equity was not affected since this measure simply involved a shift between individual components of shareholders’ equity. The subscribed capital rose from approximately €316.9 million to approximately €1,267 million, and SAP AG issued some 950 million new shares. The new shares qualify for dividend with effect from the beginning of fiscal year 2006.

As a result of the change in share capital, the ratio between the ADR and the underlying ordinary shares changed from 4:1 to 1:1, meaning that now one SAP ADR is the equivalent of one SAP ordinary share. ADR holders did not receive additional ADRs.

For more information, financial community only:
Stefan Gruber, +49 (6227) 7-44872, investor@sap.com, CET
Martin Cohen, +1 (212) 653-9619, investor@sap.com, EST

About SAP
SAP is the world’s leading provider of business software*. Today, more than 36,200 customers in more than 120 countries run SAP® applications—from distinct solutions addressing the needs of small and midsize enterprises to suite offerings for global organizations. Powered by the SAP NetWeaver® platform to drive innovation and enable business change, SAP software helps enterprises of all sizes around the world improve customer relationships, enhance partner collaboration and create efficiencies across their supply chains and business operations. SAP solution portfolios support the unique business processes of more than 25 industries, including high tech, retail, financial services, healthcare and the public sector. With subsidiaries in more than 50 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE under the symbol “SAP.” (Additional information at www.sap.com)

(*) SAP defines business software as comprising enterprise resource planning and related applications such as supply chain management, customer relationship management, product life-cycle management and supplier relationship management.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

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SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary.

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Herbert Heitmann

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SAP AG

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